This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-22521235
The article has changed 6 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Severn Trent receives takeover approach | Severn Trent receives takeover approach |
| (35 minutes later) | |
| A group of international investors is interested in buying UK water supplier Severn Trent, the company has said. | A group of international investors is interested in buying UK water supplier Severn Trent, the company has said. |
| The investors include a Canadian infrastructure company and the Kuwaiti government investment fund. | The investors include a Canadian infrastructure company and the Kuwaiti government investment fund. |
| Severn Trent confirmed it had received an approach, but said it was "at a very early stage" and there was no certainty that an offer would be made. | Severn Trent confirmed it had received an approach, but said it was "at a very early stage" and there was no certainty that an offer would be made. |
| The company's shares jumped more than 17% in the first few minutes of trading on the London Stock Exchange. | |
| Severn Trent was formed following the privatisation of UK water authorities in 1989. It now supplies water to about 7.7 million people. | |
| The consortium of potential bidders consists of Canada's Borealis Infrastructure, the Kuwait Investment Office, and Universities Superannuation Scheme - a UK pension fund. | |
| The Kuwait Investment Office is the UK branch of the Kuwait Investment Authority, which manages funds on behalf of the Kuwaiti state. | The Kuwait Investment Office is the UK branch of the Kuwait Investment Authority, which manages funds on behalf of the Kuwaiti state. |
| Severn Trent said the consortium had not made a takeover proposal yet. "There can be no certainty that an offer will be made or as to the terms of any such offer, should one be forthcoming," it said. | Severn Trent said the consortium had not made a takeover proposal yet. "There can be no certainty that an offer will be made or as to the terms of any such offer, should one be forthcoming," it said. |
| A report carried by the Dow Jones-owned newspaper Financial News suggested a bid could be worth £5.3bn ($8.1bn). | A report carried by the Dow Jones-owned newspaper Financial News suggested a bid could be worth £5.3bn ($8.1bn). |